Quarterly reports show Seaboard’s pork profits are on the rise. Operating income for the quarter ending June 29 was $23.6 million, up from $20.8 million the previous year. Sales, too, saw a dramatic increase from $400.7 last year up to $416.9 million.
In its earnings statement, the company explains their growing profit margins: “The increase for the three-month period primarily reflects higher margins for biodiesel from increased sales volume and lower production costs while higher prices for pork products sold were offset by various increased costs, primarily for hogs internally grown.”
During the six months ending June 29, Seaboard invested $40 million into the pork sector of their business. Most of this investment went toward adding new finishing barns, improving other facilities and concluding the construction of a new feed mill.